Zentalis Pharmaceuticals Announces Pricing of Underwritten Offering of Common Stock
15 Junho 2023 - 7:01AM
Zentalis® Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage
biopharmaceutical company discovering and developing clinically
differentiated small molecule therapeutics targeting fundamental
biological pathways of cancers, today announced the pricing of an
underwritten offering of 11,032,656 shares of its common stock
at an offering price of $22.66 per share, for total gross proceeds
of approximately $250.0 million, before deducting underwriting
discounts and commissions and offering expenses payable by the
Company. All of the common stock is being offered by the Company.
The offering is expected to close on June 20, 2023, subject to
customary closing conditions.
The Company intends to use the net proceeds from the offering to
fund ongoing and planned clinical trials, and for working capital
and other general corporate purposes. Based on these planned uses
of proceeds, the Company believes that the net proceeds from the
offering and its existing cash, cash equivalents and marketable
securities will be sufficient to fund its operating expenses and
capital expenditure requirements into 2026.
Morgan Stanley, Jefferies, SVB Securities and Guggenheim
Securities are acting as joint book-running managers for the
offering. H.C. Wainwright is acting as financial advisor to the
Company for the offering.
The securities described above are being offered pursuant to an
effective shelf registration statement that was filed with the U.S.
Securities and Exchange Commission (SEC) on May 4, 2021. This
offering is being made only by means of a prospectus supplement and
the accompanying prospectus which forms a part of the effective
shelf registration statement.
A final prospectus supplement related to the offering (including
the accompanying prospectus) will be filed with the SEC and will be
available on the SEC’s website located at www.sec.gov. Copies of
the final prospectus supplement related to the offering and the
accompanying prospectus may be obtained, when available, by
visiting the SEC’s website or by contacting: Morgan Stanley &
Co. LLC, Attention: Prospectus Department, 180 Varick Street,
Second Floor, New York, New York 10014, or by email at
prospectus@morganstanley.com; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, New
York 10022, via telephone: (877) 821-7388 or via email:
Prospectus_Department@Jefferies.com; SVB Securities LLC, Attention:
Syndicate Department, 53 State Street, 40th Floor, Boston, MA
02109, by telephone at (800) 808-7525, ext. 6105, or by emailing
syndicate@svbsecurities.com; or Guggenheim Securities, LLC
Attention: Equity Syndicate Department, 330 Madison Avenue, 8th
Floor, New York, NY 10017 or by telephone at (212) 518-9544, or by
email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
the securities in this offering in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of such
state or jurisdiction.
About Zentalis Pharmaceuticals
Zentalis® Pharmaceuticals, Inc. is a clinical-stage
biopharmaceutical company discovering and developing small molecule
therapeutics targeting fundamental biological pathways of cancers.
Utilizing its Integrated Discovery Engine, the Company is
developing a focused pipeline of potentially best-in-class oncology
candidates, which include azenosertib (ZN-c3), a WEE1 inhibitor for
advanced solid tumors, ZN-d5, a BCL-2 inhibitor for hematologic
malignancies and related disorders, and a heterobifunctional
degrader of BCL-xL for solid and hematological malignancies. The
Company is also leveraging its extensive experience and
capabilities across cancer biology and medicinal chemistry to
advance its research on protein degraders. Zentalis has operations
in both New York and San Diego.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Certain statements contained in this press release, including
those relating to the timing and completion of the offering and the
satisfaction of customary closing conditions related to the
offering, the anticipated total gross proceeds from the offering,
the planned use of proceeds of the offering, the sufficiency of the
proceeds of the offering and the Company’s cash, cash equivalents
and marketable securities to fund its operating expenses and
capital expenditures, are forward-looking statements that involve a
number of risks and uncertainties that could cause actual results
to differ materially from those in the forward-looking statements.
These risks and uncertainties include, but are not limited to,
risks and uncertainties associated with the consummation of the
proposed offering, the completion of the offering on the
anticipated terms or at all, uncertainties related to market
conditions, the satisfaction of customary closing conditions
related to the proposed offering, the completion of the offering on
the anticipated terms or at all, general economic conditions and
other risks identified from time to time in the reports the Company
files with the SEC, including its Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and
the final prospectus supplement and accompanying prospectus related
to the proposed offering to be filed with the SEC, which are
available at www.sec.gov. The forward-looking statements in
this press release speak only as of the date of this document, and
the Company undertakes no obligation to update or revise any of the
statements. The Company's business is subject to substantial risks
and uncertainties, including those referenced above. Investors,
potential investors, and others should give careful consideration
to these risks and uncertainties.
Investor Contacts:Adam D. Levy, PhD,
MBAalevy@zentalis.com
Emily WhiteSolebury Strategic
Communicationsewhite@soleburystrat.com
Media Contact:Danielle CanteyEvoke
Canaledanielle.cantey@evokegroup.com(619) 826 4657
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